Crypto Market Overview

• BTC (2.61% | Current Price: 110,305 USDT): In the past 24 hours, BTC prices fluctuated higher overall. Yesterday noon, BTC dipped to around 107,400 US dollars before rebounding sharply to a high above 109,700 US dollars. By early today, BTC consolidated within the 108,500 – 109,200 US dollars range. In the morning, bulls regained momentum, pushing the price past 110,300 US dollars. Currently, 108,500 US dollars has become key support; if the upward trend continues, BTC may test the 110,500 – 111,000 US dollars range.
• ETH (0.06% | Current Price: 4,382 USDT): Over the past 24 hours, ETH rose and then pulled back. Yesterday afternoon, ETH surged to around 4,480 US dollars, then retraced, dipping to a low of 4,210 US dollars. By this morning, ETH stabilized and is now consolidating in the 4,350 – 4,380 US dollars range, with buying momentum recovering.
• Altcoins: Most major altcoins are showing modest upward trends, with market sentiment leaning toward “Buy” or “Neutral.” The Fear & Greed Index stands at 49, within the normal range, indicating a recovery in market sentiment compared to previous days.
• Macro: As of September 2, 3:37 AM (UTC), spot gold traded at 3,490.60 US dollars per ounce, up 0.40% over the past 24 hours.

Trending Tokens

JELLYJELLY – Jelly-my-jelly (+30.25%, Circulating Market Cap: $21.91M)

According to Gate data, JELLYJELLY is trading at 0.02204 US dollars, up 30.25% in the past 24 hours.Jelly-my-jelly is a cryptocurrency based on the Solana blockchain, designed to provide engaging and potentially profitable investment opportunities. As part of the Solana ecosystem, it benefits from fast and low-cost transactions. Classified under the “Pump Fun ecosystem” and “Startup Meme” category, the token carries high volatility and potential returns.

The recent surge was driven by multiple factors: trading volume expanded significantly, boosting market activity; anticipation around the launch of a Solana-based video editing app—where token holders will enjoy priority access—enhanced expectations; and after a sharp correction earlier, sentiment has improved with stronger liquidity support from exchanges, collectively fueling capital inflows and price growth.

ELA – Elastos (+22.63%, Circulating Market Cap: $38.12B)

According to Gate data, ELA is currently priced at 1.65 US dollars, up 22.63% in the past 24 hours.Elastos is a next-generation Web 3.0 platform aiming to build a decentralized SmartWeb. With a main-sidechain architecture, layered consensus, and smart contract execution, Elastos provides a secure and trusted foundation for decentralized identity, communication, storage, and computing services. It strives to deliver a robust infrastructure for distributed applications while ensuring privacy and data security, positioning itself as a key driver in the data assetization era.

The surge in ELA over the past 24 hours is attributed to ongoing progress in the Bitcoin-backed stablecoin BTCD ecosystem, which has fueled optimism about long-term potential. Additionally, ELA has been a top performer among Layer 1 assets, with trading volume spiking across major platforms, reflecting strong buy-side activity.

ESPORTS – Yooldo (+21.42%, Circulating Market Cap: $19.60B)

According to Gate data, ESPORTS is trading at 0.1215 US dollars, up 21.42% in the past 24 hours.Yooldo is a multi-chain Web3 gaming platform that simplifies user onboarding through a centralized-exchange-like interface while enabling true digital ownership via NFTs and tokenized assets. Supported by major partners including ConsenSys and Linea, Yooldo operates a multi-game universe powered by the ESPORTS token. The project continues to explore sustainable Web3 gaming models while building complementary services to enrich the broader ecosystem.

The recent rally in ESPORTS was mainly driven by multiple new listings on major exchanges, which significantly boosted liquidity, visibility, and tradability, leading to rapid price appreciation.

Alpha Insights

Tokenized Gold Market Cap Surpasses 2.5 Billion US Dollars as Precious Metals Near Record Highs

On September 2, the crypto market reached a milestone as tokenized gold assets surpassed 2.57 billion US dollars in market cap, coinciding with gold prices approaching April’s record highs. According to CoinGecko, Tether’s XAUT and Paxos’s PAXG were the main drivers.

XAUT, issued by Tether, is backed by physical gold reserves. In August, XAUT supply increased by 437 million US dollars, pushing its market cap to a record 1.3 billion. Blockchain data shows that in early August, Tether minted 129,000 tokens on Ethereum, highlighting strong safe-haven demand. Meanwhile, PAXG expanded to 983 million US dollars in market cap, with 141.5 million net inflows since June. This underscores growing investor appetite for gold-backed tokens as a hedge against macroeconomic risks.

Spot gold is currently trading around 3,490 US dollars per ounce, just shy of the peak set on April 22 during tariff tensions. Traditionally viewed as a safe haven, gold has been buoyed further by shifts in the U.S. Treasury yield curve, which have amplified capital inflows.

Dogecoin Price Analysis: Institutional Flows Spike, Price Ranges Between 0.21–0.22 US Dollars

Dogecoin experienced notable volatility over the past 24 hours. The price briefly surged to 0.22 US dollars before retracing to 0.21 US dollars due to profit-taking and late-session selling, establishing a consolidation range. Trading data shows volumes exceeded 809 million DOGE during the rally and 806 million DOGE during the pullback—well above average—underscoring significant institutional participation.

On the macro front, trade policies, Federal Reserve signals, and global inflation expectations continue to amplify market volatility. Corporate finance departments are exploring DOGE and other liquid digital assets for diversification strategies.

Technically, 0.21 US dollars has been reinforced as short-term support, while 0.22 US dollars remains the key resistance. A breakout above 0.225 US dollars is needed to confirm upward momentum. RSI hovers around 50, and MACD compression signals an impending directional move. A bullish breakout could target the 0.25–0.30 US dollar range, while a breakdown below 0.21 could lead to a decline toward 0.20. Overall, institutional inflows are strengthening DOGE’s market structure, with traders closely watching support and resistance levels for the next move.

Alpenglow Upgrade Approved: Solana Undergoes Historic Restructuring

On September 1, the Solana community approved the Alpenglow upgrade proposal (SIMD-0326), marking a sweeping overhaul of the network’s consensus, economic, and security models—considered the most significant upgrade in Solana’s history. Finality times will shrink from around 13 seconds to just 100–150 milliseconds, dramatically boosting efficiency. Technically, the Tower BFT consensus will be replaced by the new Votor finality engine, leveraging BLS aggregated signatures and off-chain voting to reduce on-chain overhead. The Rotor relay layer will also replace the Turbine protocol, cutting network latency. Solana will abandon Proof of History (PoH) in favor of fixed 400-millisecond block times maintained by validator timers.

Economically, on-chain voting fees will be eliminated and replaced by Validator Admission Tickets (VAT) of 1.6 SOL per epoch, which will be burned—destroying around 296,000 SOL annually and slightly curbing inflation. Minimum stake requirements may be lowered, though details remain under discussion. On the security side, Byzantine fault tolerance will shift from 33% to 20%, with a new “20+20” resilience model ensuring stability even with 20% malicious and 20% offline validators. The upgrade is also expected to reshape MEV dynamics by compressing block confirmation times, making arbitrage and sandwich attacks significantly harder. Deployment to mainnet is scheduled for Q1 2026, with further SIMD proposals to refine VAT, relay incentives, and staking structures. This upgrade is not only a performance leap but also a transformative shift in Solana’s economic and security foundations.


References

• Gate, https://www.gate.com/trade/BTC_USDT
• Farside Investors, https://farside.co.uk/btc/
• Gate, https://www.gate.com/trade/ETH_USDT
• Farside Investors, https://farside.co.uk/eth/
• Gate, https://www.gate.com/crypto-market-data
• Investing, https://investing.com/indices/usa-indices
• Investing, https://investing.com/currencies/xau-usd
• CoinGecko, https://www.coingecko.com/categories
• Panews, https://www.panewslab.com/zh/articles/040332ed-2b56-4391-8dbf-7566e19777a8
• Coindesk, https://www.coindesk.com/markets/2025/09/01/tokenized-gold-market-tops-usd2-5b-as-the-precious-metal-nears-record-highs
• Coindesk, https://www.coindesk.com/markets/2025/09/02/dogecoin-price-analysis-usd0-21-usd0-22-range-forms-as-institutional-flows-spike

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Disclaimer
Investing in cryptocurrency markets involves high risk. Users are advised to conduct their own research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages arising from such decisions.